banner_ad

Late fee under Gst

213 views 4 replies
User Avatar

PROPRIETOR
552 Points Posted on 31 August 2021
Late fee paid under Gst is an allowable expenses under section 37 of the Act , Please clarify the correct position . It is nature of penalty or not .
Reply Share Follow
On 31 August 2021 at 23:04 Report
Replies (4)
User Avatar

Practising CA
8954 Points Posted on 01 September 2021
Not a penalty.... allowable expenses.
30 Reply
On 01 September 2021 at 10:01
User Avatar

CMA
13117 Points Posted on 01 September 2021

It is an allowable expense as I understand.

92 Reply
On 01 September 2021 at 14:01
User Avatar

PROPRIETOR
552 Points Posted on 01 September 2021
My ca mention in Audit Report it is penalty . Notice under section 143(a)(iv) received adjustment of that amount , what procedure adopted by me for allowing that expenses as a business expenses
Reply
On 01 September 2021 at 16:44
User Avatar

Practising CA
8954 Points Posted on 02 September 2021
Option 1 - Ask your CA to revise audit report and then respond as disagree.
Option 2 - Accept the adjustment and file revised return if possible if the adjustment amount is small.
30 Reply
On 02 September 2021 at 10:11


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details